labels: economy - general
India''s foreign exchange reserves top $262 billion news
03 November 2007
Mumbai: Foreign exchange reserves of the country rose to a record $262.45 billion on October 26, from $261.14 billion a week earlier, the Reserve Bank of India said in its weekly statistical supplement.

The increase of $1.307 billion in one week was primarily the result of a rise in foreign currency and assets collections.

Foreign currency and assets rose $1.305 billion to $254.629 billion.

Gold reserves and SDRs (special drawing rights) remained flat at $7,367 million and $13 million respectively.

During the same period, the reserve position in the International Monetary Fund (IMF) increased $2 million to $441 million.

Foreign currency assets expressed in dollar include the effect of appreciation or depreciation, on non-US currencies (such as Euro, Sterling and Yen) held in reserves, the RBI said.

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India''s foreign exchange reserves top $262 billion